nyse american: age...•early/widespread commercialization through bailment of univercyte master...

NYSE American: AGE

Rodman & RenshawGlobal Investment Conference

September 9, 2019

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Forward Looking Statements

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The matters discussed in this presentation include forward looking statements which are subject to various risks,uncertainties, and other factors that could cause actual results to differ materially from the results anticipated. Such risksand uncertainties include but are not limited to the success of AgeX Therapeutics and its affiliates in developing newstem cell-based products and technologies; results of clinical trials of such products; the ability of AgeX and its licenseesto obtain additional FDA and foreign regulatory approval to market products; competition from products manufacturedand sold or being developed by other companies; the price of and demand for such products; the ability of AgeX and itssubsidiaries to maintain patent and other intellectual property rights; and the ability of AgeX to raise the capital needed tofinance its current and planned operations. Any statements that are not historical fact (including, but not limited tostatements that contain words such as "will," "believes," "plans," "anticipates," "expects," "estimates") should also beconsidered to be forward-looking statements. As actual results may differ materially from the results anticipated in theseforward-looking statements they should be evaluated together with the many uncertainties that affect the business ofAgeX and its other subsidiaries, particularly those mentioned in the cautionary statements found in AgeX's Securitiesand Exchange Commission filings. AgeX disclaims any intent or obligation to update these forward-looking statements.

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• To target the largestand most rapidly-growingmarkets in medicine:Age-RelatedDegenerative Disease

• An advanced technologythat reverses aging andinduces regeneration inhuman cells and tissues

Mission

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Significant Biotechnology Revolutions4

• 1974 – Gene cloning technology developed

• 1976 - Moratorium on rDNA research initiated led to established guidelines on rDNA research

• 1989 – First $B product EPO • Today, products from the use

of rDNA technology are ubiquitous

• >140 clinical trials• Current Global Market $75 B

Recombinant DNA Technology

• 1975 - Hybridoma technology developed

• 1997- First $B Product Rituximab

• Advances in Mab Engineering• Today, eight of the 20 best-

selling biotechnology drugs in therapeutic monoclonal antibodies

• > 200 clinical trials• Current Global Market $44 B

Monoclonal Antibodies

• 1998 – First Pluripotent Stem Cells isolated

• 2001 – U.S. Federal funding restriction (reversed in 2009)

• 2010 – 1st hES Clinical trial• 2015 – Fuji acquires Cell. Dyn.• 2015 – Astellas acquires Ocata• 2019 – Bayer acquires BlueRock• 2019 – Vertex acquires Semma

• Future – 1st $B product

Regenerative Medicine

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The Power of Pluripotency

• Key applications in age-related degenerative disease• Uniform and infinitely-scalable product• Enables precise genetic modification• Off-the-shelf products

Pluripotent Stem Cells

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The >1000-fold complexity of cell types derived from hPS cells leads to unique challenges:

• How manufacture with cGMP?• How produce allogeneic product?• Identity - Lot-to-lot variability in

composition• Purity – Contamination with

unknown cell types

Pluripotent Cells

Activin A

FGF2

TGFb3

Desired Cell Type

Pluripotency – The Competitive Edge

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Proprietary Technologies

• >400 patents & patent apps worldwide in pluripotency-based therapeutics:Ø PureStem® manufacturing technology

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Universal PureStemTM Technology

ES CellsPurification ofdesired cell type Problem of impuritiesDifferentiation

Trad

ition

al M

anuf

actu

rePu

reSt

emTe

chno

logy

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Proprietary Technologies

• >400 patents & patent apps worldwide in pluripotency-based therapeutics:Ø PureStem® manufacturing technologyØ UniverCyteTM (HLA-G to mask rejection) technology

of choice for cell-based therapies

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UniverCyteTM: HLA-G for Allogeneic Immunotolerance

• The primary role of HLA-G is to suppress maternal immune response to pregnancies

• Disarms multiple pathways of immune response leading to rejection

Adv. Immunol. (2015) 127:33-144

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Value of the UniverCyte Allogeneic Products

Classical biologics off-the-shelf business model

UniverCyte-DerivedCell Therapy Products

TraditionalBiologicals

Centralized Production

FacilityPoint Of Care

Distributed Frozen

Inventory

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Proprietary Technologies

• >400 patents & patent apps worldwide in pluripotency-based therapeuticsØ PureStem manufacturing technologyØ UniverCyte (HLA-G to mask rejection) technology of

choice for cell-based therapiesØ HyStem matrix for stable engraftment

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U.S. projected >80 yrs. old

Twin Technologies: Cells & Matrix

The Ideal Regenerative Platform

Pluripotent Cell-Based Therapeutics

HyStem®

Matrix Delivery

• Pluripotent Stem Cells (PSCs) allow the manufacture of all young human cell types on an industrial scale

• PureStem-based purityBiomaterials. 2013 Jul; 34(22): 5521–5529

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Proprietary Technologies

• >400 patents & patent apps worldwide in pluripotency-based therapeutics:Ø PureStem® manufacturing technologyØ UniverCyteTM (HLA-G to mask rejection) technology

of choice for cell-based therapiesØ HyStem® matrix for stable engraftment

• Induced Tissue Regeneration (iTRTM)

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iTR or “Partial Reprogramming”

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Genome Biol. 2013;14(10):R115

Reversing the Aging of Human Cells

Regen Med 2010 May;5(3):345-63

ReprogrammingMethylation Age

Regen Med 2019 Aug 28. doi: 10.2217/rme-2019-0062.

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iTR Strategy

ReCyte1 EC Cell Line Exosomes

Twin Strategies in DevelopmentLoad with

Telomerase mRNA

In Vivo Applications

Small MoleculeCocktail (iTR 1547)

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Drug-Based iTR

Pluripotent (off)

AGEX-iTR1547Embryonic/Fetal Levels

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Maximizing Commercialization of the Platform

Cellular Therapeutics Ectopic Organoid-BasedTherapeutics

BiomaterialsDrug Discovery

PluripotentStem Cells

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Business Strategy

• Bailment of Master Cell Banks (MCBs)

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Bailment of Master Cell Banks

Cellular Therapeutics

• AgeX retains ownership of MCB• Licensee owns derivative products

in defined fields of use• Royalty is not patent-based and

therefore runs into indefinite future• Results in potentially high NPV

Master CellBanks

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Business Strategy

• Bailment of Master Cell Banks (MCBs)• Partnerships for non-core applications

Ø Therapeutic use of ectopic organoidsØ Diverse biomaterials including exosomesØ Cytiva II - Adult cardiac cells for drug testing

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Business Strategy

• Bailment of Master Cell Banks (MCBs)• Partnerships for non-core applications

Ø Therapeutic use of ectopic organoidsØ Diverse biomaterials including exosomesØ Cytiva II - Adult cardiac cells for drug testing

• Internal development of AGEX-BAT1, AGEX-VASC1,and Renelon

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Brown Adipose Cells Regulate Metabolism

Maintenance

Weight Gain Weight LossT2 Diabetes

WAT BAT

HeatEnergy

Storage

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Obesity (2011) 19, 1755–1760. doi:10.1038/oby.2011.125

Brown Adipose Cells Regulate Metabolism

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AgeX-BAT1 Properties

Tissue-Sourced Brown Adipocytes PureStem Brown Adipocytes

Stained for Brown Adipocyte Marker UCP1

Ste

m C

ell R

esea

rch

& T

hera

py (2

019)

10:

7

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U.S. projected >80 yrs. old

Obesity/T2D Market/Competition

• 30M Americans have diabetes1 1:3 Americans will have diabetes by 2050• The global market for diabetes mellitus and obesity is set to rise from $70.8 billion

in 2015 to $163.2 billion by 2022, at a strong compound annual growth rate of 12.7%, according to business intelligence firm GBI Research.

• Competing products commonly target insulin secretion, glucose excretion, incretins such as GLP-1, or attempt to activate existing BAT or cause browning of white fat.

1) Centers for Disease Control and Prevention. National Diabetes Statistics Report: Estimates of Diabetes and Its Burden inthe United States. US Department of Health and Human Services; Atlanta, GA: 2014.

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Monoclonal Endothelium

GFP Endothelium (168 hrs)

~100% Purity

AgeX-VASC1 Purity

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U.S. projected >80 yrs. old

Cardiovascular Market

http://www.heart.org/idc/groups/heart-public/@wcm/@adv/documents/downloadable/ucm_491543.pdf

> $Trillion Market Worldwide

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Business Strategy

• Bailment of Master Cell Banks (MCBs)• Partnerships for non-core applications

Ø Therapeutic use of ectopic organoidsØ Diverse biomaterials including exosomesØ Cytiva II - Adult cardiac cells for drug testing

• Internal development of AGEX-BAT1, AGEX-VASC1,and Renelon

• Induced Tissue Regeneration (iTRTM) through the subsidiary Reverse Bioengineering, Inc.

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Anticipated Six Month Milestones

• Partnerships:Ø Therapeutic use of ectopic organoidsØ First commercial bailment of master cell bankØ PureStem-derived biomaterials

• Finance Reverse Bioengineering, Inc. to advance iTR• Complete development of Cytiva II• Announce development plans for RenelonTM, a relatively

near-term application of iTR technology

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Company Information

COMPANY QUICK FACTSFounded 2017Contact Details:965 Atlantic AvenueAlameda, CA 94501Tel: +1 (510) 671-8370Stock Listing NYSE American: AGEMarket Cap (9/6/19) ~$100M

EXECUTIVE MANAGEMENTMichael D. West, Ph.D. Chief Executive Officer

Founder and first CEO Geron CorporationGregory Bailey, M.D., Chairman of the BoardCo-founder Ascent Health Care, Board of MedivationNafees Malik, M.D., Chief Operating Officer Head of Cell and Gene Therapies at JuvenescenceRussell Skibsted, M.B.A. Chief Financial Officer Lineage Cell Therapeutics, Spectrum Pharmaceuticals, Hana Biosciences, Asset Management CompanyAubrey de Grey, Ph.D., VP, New Technology Discovery. Chief Science Officer, SENS Research Foundation.INVESTOR CONTACTRussell Skibsted, CFOEmail: rskibsted@agexinc.com

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Summary

• Targeting the largest unmet medical needs in the US:chronic degenerative diseases of aging

• Partnering the non-core commercial applications of pluripotency• Early/widespread commercialization through bailment of UniverCyte

master cell banks• Internal development of AGEX-BAT1, AGEX-VASC1, Renelon, and

Cytiva• Induced Tissue Regeneration (iTR) technology for the transcriptional

reprogramming of aging in vivo to be developed by the subsidiary Reverse Bioengineering, Inc.